Arcimoto News Recap

 

Arcimoto to Begin 2023 Vehicle Production for Spring Deliveries

2023 vehicle deliveries to start in March with new features and improvements

EUGENE, Ore., Feb. 21, 2023 (GLOBE NEWSWIRE) — Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, ultra-efficient electric vehicles, announced that it will start 2023 vehicle production on FUV and Deliverator with plans for first deliveries beginning in March. Headlining the model year 2023 product update is the new steering system that will deliver improved handling and maneuverability at all speeds while reducing steering effort by more than 40% from prior models. “During our internal testing, and pilot rollout the feedback from drivers was resoundingly positive in terms of feel and responsiveness,” said Dwayne Lum, Arcimoto Chief Product Officer. “Additionally, this is not restricted to 2023 models. Our team committed to creating a post-production version that prior model year FUV owners could elect to deploy for a small fee through our service organization,” added Mr. Lum. Arcimoto ended Q4 2022 with the most successful quarter yet delivering 89 vehicles. In 2022, Arcimoto delivered 228 customer vehicles, which increased the total number of Arcimoto vehicles on the road to more than 500.

“As we begin first deliveries in 2023, we continue to focus on improving vehicle drive quality, manufacturing cost down efforts and increasing our brand reach to grow both our consumer and commercial sales volume,” said Jesse Fittipaldi, Arcimoto Interim CEO. “Our efforts will be directed at driving sales of FUV and Deliverator and lowering manufacturing costs on these products this year.”

Arcimoto Announces $6 Million in Additional Funding

Additional funding comes shortly after closing a $12 million public offering on January 20th

EUGENE, Ore., Feb. 22, 2023 (GLOBE NEWSWIRE) — Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, ultra-efficient electric vehicles, announced today they received $6 million in additional funding by means of a real estate loan on their Eugene, Oregon factory. This additional financing comes shortly after the $12 million public offering that closed on January 20th. A portion of the net proceeds from the offering were used to repay the convertible note with 3i. The remaining funding will be used for working capital and general corporate purposes.

“We announced this week the start of 2023 production with new steering features and improvements on the FUV and Deliverator. This additional funding paired with our efforts in reducing vehicle costs and increasing sales gives the team practical confidence as we continue to focus on the growth of FUV and Deliverator programs,” said Jesse Fittipaldi, Arcimoto Interim CEO.

Arcimoto Opens Vehicle Sales in 4 New States

Arcimoto expands into additional West and East Coast key markets, opening customer orders in Connecticut, North Carolina, South Carolina, and New Mexico with deliveries starting this Spring

EUGENE, Ore., March 01, 2023 (GLOBE NEWSWIRE) — Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, ultra-efficient electric vehicles, today announced that it is now accepting vehicle orders from customers in Connecticut, North Carolina, South Carolina, and New Mexico, with first customer deliveries expected to begin in the first half of 2023. This comes shortly after announcing the start of 2023 production with new steering features and improvements on the FUV and Deliverator.

“We are excited to introduce Arcimoto to some of the top EV markets in the country, home to many of the most beautiful places to FUV,” said Arcimoto Chief Experience Officer Lynn Yeager. “This expansion is important to our continued growth of both consumer and commercial channels. Today, we began reaching out to preorder customers in these states with the opportunity to order their vehicle.” To design and reserve your vehicle, please visit https://www.arcimoto.com/order

Arcimoto vehicles are now available in California, Oregon, Washington, Hawai’i, Nevada, Arizona, New Mexico, Florida, New York, New Jersey, Connecticut, Pennsylvania, Maryland, Virginia, Washington D.C., North Carolina, South Carolina, and Georgia. Customers outside of these states can place a $100 refundable preorder to be the first to know when Arcimoto opens in their region.

About Arcimoto, Inc.

Arcimoto is a pioneer in the design and manufacture of rightsized, ultra-efficient, incredibly fun electric vehicles for everyday mobility. Built on the revolutionary three-wheel Arcimoto Platform, our vehicles are purpose-built for daily driving and local delivery, all at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Based in Eugene, Oregon, the Arcimoto team is dedicated to creating world-class EVs that make the world a better place. For more information, please visit Arcimoto.com.